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VOL. TMN-7 | NO. 45 | Saturday, November 1, 2014
Weekly Issue
SPECIAL EDITION Commercial Real Estate

Real Estate Rally

Memphis metro’s commercial market shows improvement

Commercial real estate can offer insight into the strength of the local economy. Through the office, retail, industrial and apartment developments that mark the region the economy at work in the real world can be seen.

Mississippi Company Waited Years to Acquire The Horizon

Walker Thrash, principal of Dawn Properties Inc., first heard about The Horizon shortly after work on the ambitious condominium tower overlooking the Mississippi River ground to a halt in 2009.

Battle Rages On Between Regional Foes

In October, Old Dominion Freight Line Inc. opened the door, or 267 doors to be more precise, on its new $30 million service center in Memphis.

Turner Looks to Increase Professional Advancement in Commercial Real Estate

Bob Turner has a diverse background in real estate, including long stints in both residential and commercial development.

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EVENTS

Memphis Reads, the citywide community reading program, will host Dinaw Mengestu, author of Memphis Reads selection “The Beautiful Things That Heaven Bears” Tuesday, Nov. 4, for a reading at 5:30 p.m. at the Benjamin L. Hooks Central Library, 3030 Poplar Ave. Mengestu will also speak at 8 p.m. at the University Theater on the Christian Brothers University campus, 650 East Parkway S. Both events are free. Visit cbu.edu.

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Experts to Provide Commercial Real Estate Outlook at Seminar

Yes, Overton Square is booming, but that may not have been the case without Memphis-based Loeb Properties Inc.

Mixed-Use Project Looms for Former Lakeland Mall

Get used to the name Lake District. You’ll probably be hearing more about it in the near future. Lake District is the new name for the revamped project being planned at the old Lakeland Factory Outlet Mall site.

Editorial: Overton Square Comeback Proof of Possibilities

Overton Square is back in ways few of us could have foreseen just three years ago.

THE MEMPHIS NEWS ALMANAC

This week in Memphis history: October 31-November 6

2006: Former President Bill Clinton in Memphis to campaign for U.S. Rep. Harold Ford Jr. at Temple of Deliverance Church of God in Christ just days before election day in the U.S. Senate race between Ford, the Democratic nominee and Bob Corker, the Republican nominee. Corker would claim the Senate seat.

Evans Rules City Health Insurance Cuts Can Proceed

Chancellor Walter Evans has denied a move by city government retirees to stop the city from enacting changes to health insurance coverage effective Jan. 1.

Bigger LIFT

Organization looks at new way for community development

The former Cadence Bank branch on Court Avenue Downtown is the new and bigger home for Community LIFT, the local intermediary with community development corporations founded by a coalition of nonprofits and the city of Memphis four years ago.

Newby's Owner Raising Money to Keep Doors Open

Newby’s owner Todd Adams has turned to crowdfunding to help him raise money that will be used to keep his bar and music venue on the Highland Strip open.

Blues Foundation CEO to Step Down in 2015

Jay Sieleman, The Blues Foundation’s president and chief executive officer, announced Wednesday, Oct. 29, that he will step down from leading the international organization in September 2015.

Lewis Biography Details Turbulent Personal Life

If you tuned into The Late Show with David Letterman Monday, Oct. 28, you saw Jerry Lee Lewis in a very unusual setting – not at the center of attention.

Achievement Schools Opposition Finds Frustration

Charter school operators who are being considered for the next round of schools entering the state-run Achievement School District are facing the most organized opposition effort in the three-year history of the district in Memphis.

Downward Trend

Airfares remain high but are falling

This week, Frontier Airlines began adding six flights a week between Memphis International Airport and Dallas/Fort Worth International Airport.

New Book Captures Iconic Memphis Signs

It might be easy to overlook the signage that identifies a place or business when considering the wide sweep of Memphis’ topography.

Memphis Economic Indicator Finds Optimism

The latest Memphis Economic Indicator, a quarterly survey measuring general business sentiment produced jointly by The Daily News and Dixon Hughes Goodman LLP, found a downward trend in sentiment measured by almost all of the survey’s six standard questions.

Shareholder Seeks AutoZone Political Disclosures

AutoZone’s board of directors is recommending shareholders vote against the motion a shareholder plans to present at the company’s annual meeting in December that would ask the auto parts retailer to provide greater detail on its political spending.

Commission Chair Sued by Seven Members

Seven Shelby County Commissioners are suing commission chairman Justin Ford for stopping them from adding items to the body’s agenda.

Rock On

60th anniversary heralds Memphis’ musical past

The 60th anniversary this year of a seminal moment in the formation of rock ‘n’ roll, a moment that also happens to be a bedrock episode in Memphis music lore, has come with all the attendant tributes and celebrations to be expected for such a milestone.

Charter School Resistance Flares

When leaders of the Yes Prep charter group walked into a hostile meeting at American Way Middle School Monday, Oct. 27, set up by the Achievement School District, they also walked into a “Save Our School” rally organized by opponents of the school’s takeover by the state-run district.

‘State of Black Memphis’ Forum Urges Action

Each year, the Urban League releases a national report that puts the “state of Black America” in the form of statistics on health care, education, economic power and similar factors.

Restoration of Midtown Landmark Days Away

Renovation of the historic Nineteenth Century Club building on Union Avenue in Midtown will begin in a matter of days, according to a local preservation group.

Schools, Development Dominate Germantown Races

Germantown will have a new mayor once all of the votes are counted Nov. 4 in the city’s municipal elections on the ballot.

Hard Rock Priority

International company eyes Memphis for hotel property

When Hard Rock Café opened in the late 1990s at Beale and Hernando streets it was a late realization of a brand-specific goal city leaders had pursued while The Pyramid was being built in the late 1980s.

Porter-Leath Extends Reach of Books From Birth

Each month, the Shelby County Books from Birth program distributes more than 39,000 books via the mail to homes with children age 5 and younger. It’s an impressive effort.

I Choose Memphis: Edward C-W Harper IV

“I Choose Memphis” spotlights Memphians who are passionate about calling this community home. New Memphis Institute provides the profiles.

SPORTS

Grizzlies Brass Has Challenge In Analyzing Player Minutes

It took but a single game for one of the Memphis Grizzlies’ main dilemmas to present itself. Namely, what’s a coach to do when his starters are playing well and the bench is giving him almost nothing?

Pain of Losing Makes Wins Sweeter

So those World Series Champion Kansas City Royals T-shirts are probably headed to Angola and Namibia and Rwanda and Zambia and, well, anyplace but my hometown.

Redbirds Family Loses Former Player

St. Louis Cardinals outfielder Oscar Taveras, a top prospect who played for the Memphis Redbirds the past two seasons, was killed in a car accident on Sunday, Oct. 26, in the Dominican Republic. He was 22.

Tigers Picked Third in AAC Basketball Preseason Poll

The University of Memphis men’s basketball team was picked third in the American Athletic Conference preseason coaches’ poll, the league office announced Wednesday, Oct. 29, during its annual media day held at the New York Athletic Club.

Mettenberger Watch About All That’s Left for 2014

If the Tennessee Titans were looking for something to divert their attention from bad football, they may have found it – thanks in part to J.J. Watt.

Dobbs Makes Strong Case for Vols Starting QB Job

KNOXVILLE – University of Tennessee football coach Butch Jones faces a big question this week about his starting quarterback for Saturday night’s game at South Carolina.

NEWSMAKERS

Churchill Joins Gateway Group

Natalie Churchill has joined Gateway Group Personnel as recruiting assistant for the temporary staffing division. In her new role, Churchill will source, qualify and interview candidates to place in positions ranging from accounting, administration (receptionists to executive administrative assistants), medical office, human resources and customer service.

REAL ESTATE RECAP

CWCapital Sheds Willow Lake Buildings

3900, 4100 Willow Lake Blvd., Memphis, TN 38118, Sale Amount: $1.9 million -
Two buildings inside Willow Lake Business Park and Corporate Park in Hickory Hill have been sold for $1.9 million.

SMALL BUSINESS

Succession Plan Charts Future For Linkous Construction

As children, Jamie and Rusty Linkous used to hop in the family vehicle with their parents, R.E. and Clare Linkous, and visit work sites, watching firsthand the hard work their parents put into altering the built landscape of the city.

LOCAL COLUMNISTS

May We Remember

MAY WE NOTE LEST WE FORGET. The day after Benjamin Crowninshield Bradlee died last week, I told my audience that I was going to open my remarks with a question, and I knew I was going to be depressed by the answer.

Job Search Nightmare

With Halloween upon us, we’re talking about our fears. Finding a job can be a scary thought for many people. But what is it about the process that unnerves us?

Charitable Giving a Win-Win

Ray’s take: The UBS Investor Watch “Doing Well at Doing Good” report released recently says, “In spite of the recent economic uncertainty, America's ‘giving gene’ remains intact, and donations of money have actually increased.”

Atonement for a Halloween Past

‘Twas many and many a year ago when I acquired a genuine witch’s hat. That Halloween I covered my face with clown-white and donned an old choir robe. I was trying to be the funniest witch imaginable.

No More ‘Hope and Prayer’ Marketing

The average company spends 3 to 5 percent of revenue on marketing, which is certainly not a trivial expense. Why, then, do so many companies invest so little time in the construction of the marketing plan that ensures that investment is well spent?

China’s Growth Gut Check

The global economy is a symphony of regional and local economies interconnected by trade, interest rates and currency movements. We can generalize the influence of our leading instrumentalists in the following ways.

Hidden Fundraising Challenges

Not all fundraising challenges lie in the actions – or lack of action – by donors, board members, staff and volunteers. Some are hidden in plain sight. Consider the following.

Key Tools for the Backend of Innovation

Alekasandro Grabulou, director of innovation and development of Philips, talks about key tools for redefining the role of innovation in a fast-paced era.

TENNESSEE LEDGER

Why are Tennesseans So Afraid of an Income Tax?

The odds of an income tax becoming a reality in Tennessee – one of the nation’s lowest-taxed states – are slim to none.

Changing State Constitution No Easy Task

Amending Tennessee’s Constitution isn’t as rare as it was in the state’s first 200 years, and yet it remains a tough, drawn-out task, even if the most popular process, the legislative method, is used.

Constitutional Amendments on Nov. 4 Ballot

There are four amendments to the Tennessee Constitution on the Nov. 4 ballot. Here is the language of each amendment and what a "yes" or "no" answer would signify:

Nashville Serves Lesson in Equality Via Steam Table

Attending the Southern Foodways Alliance symposium meant homework before class. Leading up to the meeting, we received a list of about 14 articles, 26 books, two thesis papers, five oral histories and nine films to help put the talks and meals we would have into context.

Not Closing on Time? Little Issues Can Lead to Big Snags

Here is a scary Halloween tale: Many real estate transactions do not close on the actual date specified by the legally binding contract.

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RECORD TOTALS DAY WEEK YEAR
PROPERTY SALES 66 378 15,444
MORTGAGES 67 456 20,235
FORECLOSURE NOTICES 12 121 4,007
BUILDING PERMITS 175 1,046 36,888
BANKRUPTCIES 58 290 14,633
BUSINESS LICENSES 16 80 5,209
UTILITY CONNECTIONS 76 388 22,205
MARRIAGE LICENSES 28 111 4,774

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The Memphis News: Business, politics, and the public interest.